Elbit Systems (NASDAQ:ESLT) Shares Gap Up – Still a Buy?

Shares of Elbit Systems Ltd. (NASDAQ:ESLT) gapped up prior to trading on Wednesday . The stock had previously closed at $209.20, but opened at $221.00. Elbit Systems shares last traded at $221.00, with a volume of 101 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Elbit Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th.

Elbit Systems Trading Up 0.3 %

The company has a market cap of $9.33 billion, a price-to-earnings ratio of 43.50 and a beta of 0.53. The business has a fifty day simple moving average of $198.91 and a 200 day simple moving average of $194.32. The company has a quick ratio of 0.63, a current ratio of 1.13 and a debt-to-equity ratio of 0.10.

Elbit Systems (NASDAQ:ESLT) last issued its earnings results on Wednesday, August 14th. The aerospace company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.31. The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Elbit Systems had a net margin of 3.85% and a return on equity of 10.70%. During the same period last year, the company posted $1.57 earnings per share. On average, equities analysts anticipate that Elbit Systems Ltd. will post 7.8 EPS for the current fiscal year.

Elbit Systems Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Tuesday, October 15th will be issued a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Tuesday, October 15th. Elbit Systems’s dividend payout ratio (DPR) is 32.68%.

Institutional Investors Weigh In On Elbit Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its holdings in shares of Elbit Systems by 34.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 96,481 shares of the aerospace company’s stock valued at $20,575,000 after purchasing an additional 24,484 shares in the last quarter. Vanguard Group Inc. increased its position in Elbit Systems by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 818,862 shares of the aerospace company’s stock worth $174,622,000 after buying an additional 9,525 shares in the last quarter. Janiczek Wealth Management LLC raised its holdings in shares of Elbit Systems by 53.8% in the first quarter. Janiczek Wealth Management LLC now owns 409 shares of the aerospace company’s stock worth $86,000 after acquiring an additional 143 shares during the last quarter. Cardinal Capital Management lifted its position in shares of Elbit Systems by 7.0% in the first quarter. Cardinal Capital Management now owns 13,874 shares of the aerospace company’s stock valued at $2,917,000 after acquiring an additional 910 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Elbit Systems during the first quarter valued at $10,893,000. 17.88% of the stock is currently owned by hedge funds and other institutional investors.

Elbit Systems Company Profile

Elbit Systems Ltd. develops and supplies a portfolio of airborne, land, and naval systems and products for the defense, homeland security, and commercial aviation applications primarily in Israel. The company operates through Aerospace, C4I and Cyber, ISTAR and EW, Land, and Elbit Systems of America segments.